Definition of Accounting Token in Crypto

What is an Account Token?
Accounting token are well understood when you think of blockchain as “distributed accounts.” They are another factor in stablecoins, helping businesses remain obedient. Stablecoins are the dream of the controller because they act like money, can be used anonymously and worldwide. As a result, many powers treat stablecoins as their commodity-like commodity, controlling their use.
Account tokens are actually tokenized credits or debit checks (IOU / UOM), as is the accounting system based on each piece of paper.

They are solely for the purpose of accounting, and represent the amount of money held by the token holder. It does not support FIAT like stablecoins, so it cannot be treated as a commodity. This solution works well with a small number of maintenance partners. Of course, in a relatively small number of cases, the entire system will be fixed on the blockchain, using a smart token protocol. This accounting record should not be merely financial; they may also represent their goods or services equal to the price quoted, not unlike the old coupon. Honestly, they work like coupons.
Due to the nature of blockchain technology, this system is also very secure and compatible. Businesses can prevent potential brand holders by enabling the KYC / AML system, adding documentation, and placing the entire system clearly on the public blockchain since that is where although these symbols are – credit / debit entry and mail distribution.

Author:

Johannes Schweifer is the CEO of CoreLedger, a company that provides business power of all sizes to take advantage of blockchain technology. Schweifer supports several blockchain startups, including Bitcoin Suisse. He is a passionate troublemaker, holding a master’s degree in Chemistry and a Ph.D. and computers distributed in quantum chemicals.

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